Products & Services
Close End Fund
Closed-end funds behave more like stock than open-end funds. They issue a fixed number of units to the public in an initial public offering, after which time units in the fund are bought and sold on a stock exchange. The price of a unit in a closed-end fund is determined entirely by market demand, so units can be either traded below their net asset value (NAV) or above it. You can purchase units in a closed-end fund through a broker, just as you would purchase a share of stock.